Kennedy Capital Management Inc. increased its stake in First Bank (NASDAQ:FRBA) by 101.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 112,683 shares of the bank’s stock after acquiring an additional 56,843 shares during the quarter. Kennedy Capital Management Inc. owned about 0.65% of First Bank worth $1,561,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Haverford Trust Co. acquired a new position in shares of First Bank in the fourth quarter worth approximately $516,000. Monashee Investment Management LLC acquired a new position in shares of First Bank in the fourth quarter worth approximately $163,000. BlackRock Inc. lifted its stake in shares of First Bank by 13.4% in the fourth quarter. BlackRock Inc. now owns 43,820 shares of the bank’s stock worth $607,000 after acquiring an additional 5,178 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of First Bank in the fourth quarter worth approximately $175,000. Finally, Wells Fargo & Company MN lifted its stake in shares of First Bank by 252.9% in the fourth quarter. Wells Fargo & Company MN now owns 11,769 shares of the bank’s stock worth $163,000 after acquiring an additional 8,434 shares during the period. 39.98% of the stock is currently owned by institutional investors.
First Bank (NASDAQ FRBA) opened at $14.15 on Thursday. First Bank has a 12 month low of $10.60 and a 12 month high of $14.95. The stock has a market capitalization of $240.63, a P/E ratio of 19.17 and a beta of 0.57.
First Bank (NASDAQ:FRBA) last issued its quarterly earnings results on Tuesday, January 30th. The bank reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). The business had revenue of $12.86 million during the quarter, compared to analysts’ expectations of $12.60 million. equities research analysts anticipate that First Bank will post 1.04 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This is a positive change from First Bank’s previous quarterly dividend of $0.02. This represents a $0.12 annualized dividend and a yield of 0.85%. First Bank’s payout ratio is 23.53%.
A number of equities analysts recently commented on the company. Zacks Investment Research lowered First Bank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub lowered First Bank from a “hold” rating to a “sell” rating in a research note on Saturday, January 20th. Finally, ValuEngine raised First Bank from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $15.33.
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First Bank Company Profile
First Bank is a commercial bank. The Company provides a range of lending, deposit and other financial products and services. It operates through Community Banking segment, which is engaged in providing a range of commercial and retail and related banking services. It offers a range of lending products to meet the needs of its customers located within its market areas, including commercial and industrial loans, commercial real estate loans (including owner-occupied, investor, and multi-family loans), residential real estate loans, and consumer and other loans.
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